fbpx
Unfiltered

Why Shouldn’t You Use Bitcoin – Purely Unfiltered

Crypto is the latest trend nowadays! But, with all that attention! Questions are raised. Questions which are sometimes crypto-lovers find difficult to answer. Turning a blind eye to all the questions being raised raised doesn’t do anyone any  good we believe. To rise above, we should face the reality and accept it! One of the most frequently raised questions on the internet about Bitcoin has been “Why shouldn’t I Bitcoin.” Hmm. That’s a tough one!

But, we here at Unfiltered are determined to shed light on all aspects of crypto. That’s why we’re going to give our unbiased opinion and let you decide by yourself if our argument has been convincing enough!

Not Every Business Accepts It

Miracle On 34Th Street Christmas Movies GIF

Sure, Bitcoin has definitely put a huge dent in the traditional currency world. But, in comparison not all businesses are using it. The acceptance of Bitcoin has greatly increased. But, mass adoption is still going to take its time. There is still a long way to go till you for start buying anything anywhere using this crypto. Don’t go all sad after hearing that. You can still buy something totally worth it! PIZZA! Yum!!

High Volatility

Not Happy Mara Wilson GIF

It’s something that you should seriously consider, if you’re thinking to trade using Bitcoin. The amount of businesses that are happy to accept Bitcoin is sadly still low. Any trade, activity or event in such businesses can have a high effect on the price of this crypto. But the good news? With time the volatility will undoubtedly decrease and more companies will begin to use Bitcoin for the better.

Unfortunately, the crypto world is new. This is exactly why it’s super hard to predict what will happen to this currency in the future. We have high hopes! Our hopes are high for a reason. The system is designed in a manner which offers the world much more than traditional currencies do. Can’t wait for the big crypto-revolution anymore. It needs to happen fast!

Constantly Developing

hilarious kermit the frog GIF

Like any software, Bitcoin is still developing. We can’t blame it! That’s just how things are you know when it comes to technology. New and the already existing secure codes are being rapidly worked on just to make Bitcoin more secure than ever. Even more ideas and technologies are underway to make this crypto even easier to use then it already is. Since, Bitcoin is maturing with time it presents a certain degree of risk in the eyes of the people. But, we believe all the efforts will pay off in the end!

Unregulated Market

The thing is, it’s not like any other investment avenue. Crypto’s are not regulated by the government. While, it might be the best thing that could happen. But, in a situation where someone gets ripped off in a Bitcoin transaction it will be impossible to get the money back. There are already so many scammers out there who cheat and deceive people in the crypto-market and then run away with the money. This is a huge drawback. No involvement from the government means that you can’t really report the theft. Yes, its such a turn off!

Ponzi Schemes

Lying Sofia Vergara GIF

Investors who are interested in Bitcoin can fall into the trap of Bitcoin cloud mining services or even investment schemes that make false promises of assured returns. If someone is offering you fixed returns. It’s a hint! Step back right away! Always remember there is no such thing as fixed returns because of the high volatility in Bitcoins prices.

That’s All For Today (We Think)

Tired Miracle On 34Th Street GIF

So, can you think of more reasons to not use Bitcoin? Comment below!

 

Maira Zaheer

I love to write and channel my feelings into words. I'd like to quote my favorite author and poet. Who has taught me every word matters. “let me live, love, and say it well in good sentences” - Sylvia Plath. I'm here to fill your lives with some crypto-gossip. Contact the editor at editor.unfiltered@blockpublisher.com

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Close